Holiday sales will drop again this year, but not as much as last year, the National Retail Federation predicted today.
The Washington-based trade association expects a 1%-$437.6 billion-drop from last year. Last year's sales were 3.4% below those of 2007. During the last 10 years, holiday sales have increased an average of 3.4% annually.
The federation, which defines holiday sales as those that occur in November and December, is predicting a 3% decline in retail sales for 2009.
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